The European Commission (EC) has announced plans to speed up biotechnology approvals and launch a European Union (EU) Biotech Act, World Bio Market Insights reported.
In its bid to improve European competitiveness, the EC would review its Bioeconomy Strategy by the end of 2025, promote the inclusion of specific challenges on biotech and biomanufacturing in the European Innovation Council (EIC) accelerator work programme for 2025, and support the uptake of bio-manufactured products, the 4 April report said.
In addition, the EU expected artificial intelligence to help companies scale up their operations, World Bio Market Insights wrote.
Presenting the EC’s biotechnology and biomanufacturing initiative on 20 March, the organisation’s executive vice president Margrethe Vestager was quoted as saying: “Europe will not be attractive to businesses worldwide if permitting and other administrative procedures take much longer than in other parts of the world.”
The sector was also set to benefit from streamlined permitting procedures under the Net-Zero industry Act and the EC would conduct an impact assessment for bio-based requirements in public procurement, Vestager added.
Although welcoming the announcements, the biotech industry called for funding, support for scaling-up production and clear regulatory frameworks.
“The new EU Parliament and EU Commission should make the bioeconomy and bio-based industries a political priority. Implementing the actions proposed in this communication would be a good start,” Rob Beekers, chair of the Bio-based Industries Consortium, was quoted as saying.
